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Baek Byung-yeul

Korea Times K-Culture Reporter

Baek Byung-yeul is a journalist at The Korea Times focused on cultural content, including films and cultural events in South Korea. You can contact him at baekby@koreatimes.co.kr to share your insights.

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Companies

SK creates $15.7 bil. in social value during 2022 via environmental, social innovations

Chey Tae-won, chairman of SK Group, speaks during a business round table event at World Climate Industry Expo held at the BEXCO convention center in Busan, May 25. YonhapBy Baek Byung-yeulSK Group said Sunday that the total social value created by its affiliates in 2022 by innovating business models for the environment and society reached 20.556 trillion won ($15.7 billion), up 8.6 percent from the previous year.Korea's second-largest business group has been announcing a monetized measure of its social value creation every year since 2018. It said the total amount of social value has been steadily increasing as a result of efforts by each affiliate to generate more social value through new businesses.“Business models are being created and innovations have been made as stakeholders look for ways to solve or mitigate the social problems they face,” an SK Group spokesperson said. “Now, the social values are being internalized into the businesses of each affiliate.”The group said it generated a total of 1.93 trillion in social value from its products and services

Jun 4, 2023By Baek Byung-yeul
SK creates $15.7 bil. in social value during 2022 via environmental, social innovations
Tech & Science

Samsung focuses on young Chinese smartphone user market

A seen from a short film “Fantastic Night Rhapsody,” which was shot using a Samsung Electronics' Galaxy S23 Ultra smartphone / Courtesy of Samsung ElectronicsFilm shot using Galaxy S23 hits 250 mil. views in ChinaBy Baek Byung-yeulSamsung Electronics has lost ground to Chinese rivals and Apple in China, the world's largest smartphone market, but the maker of the Galaxy smartphone series is trying to keep its foothold there by strengthening marketing efforts toward young consumers, according to the company, Thursday.The company said that it has begun to engage younger consumers in China via various cultural marketing efforts, including movies and art. As part of its efforts, Samsung partnered with Shanghai Disneyland and released a short film on May 20.The movie, titled “Fantastic Night Rhapsody,” was entirely shot with Samsung's latest high-end smartphone Galaxy S23 Ultra. Samsung said the short film has been well-received in the Chinese market, surpassing 250 million views within just 10 days of it being released.The 27-minute film, starring actress Jin Chen

Jun 1, 2023By Baek Byung-yeul
Samsung focuses on young Chinese smartphone user market
Tech & Science

Netmarble to roll out 3 new games from July

Kwon Young-sig, CEO of Netmarble, speaks during a new games announcement event at the company's headquarters in Seoul, Thursday. Courtesy of NetmarbleBy Baek Byung-yeulNetmarble will release three new games in Korea and the global market in July as part of its efforts to make up for its poor performance, having posted operating losses for five straight quarters since the first quarter of 2022, the company CEO said Thursday.“Through the showcase today, we are introducing our new games. These games are accessible to everyone and feature immersive gameplay. We expect them to perform well in the global market thanks to their low entry barrier, animated artwork and excellent game strategy,” Kwon Young-sig, CEO of Netmarble, said while introducing its new games Tower of God: New World, Grand Cross: Age of Titans and Seven Knights Idle Adventure.Kwon emphasized that the games are aimed not only at the Korean market but also at users in the global market.“All three will be released in the global market. Some of the games are very popular in Korea, some are popular genres in

Jun 1, 2023By Baek Byung-yeul
Netmarble to roll out 3 new games from July
Companies

Mercedes-Benz Korea appoints new CEO

Mathias Vaitl, newly appointed CEO of Mercedes-Benz Korea / Courtesy of Mercedes-Benz KoreaBy Baek Byung-yeulMercedes-Benz Korea appointed Mathias Vaitl, who currently leads Mercedes me, Digital Services Business and eCommerce, as its new CEO, the Korean unit of the German luxury car brand said, Wednesday. Mercedes-Benz Korea said the new CEO's term will begin on Sept. 1. Thomas Klein, the current CEO, will be promoted as head of Product Management & Sales Mercedes-Benz Passenger Cars & Integrated Production, Sales and Inventory Planning at Mercedes-Benz Group AG.The company said Vaitl has an extensive and proven track record in various business areas in digital services, sales and customer service in many countries.“I am very excited to take the role of CEO of Mercedes-Benz Korea, the fourth-largest market and one of the most dynamic and trend-setting markets in the world,” Vaitl said. “I will devote myself to listening and learning customers' demands and work closely together with Korean colleagues and dealers to strengthen customer satisfaction and contin

May 31, 2023By Baek Byung-yeul
Mercedes-Benz Korea appoints new CEO
Tech & Science

LG Innotek develops flexible automotive lighting

An LG Innotek employee poses with the company's Nexlide-M vehicle lamp, Wednesday. Courtesy of LG InnotekBy Baek Byung-yeulLG Innotek developed Nexlide-M, a flexible and stereoscopic automotive lighting targeting the high-priced luxury car market, the company said Wednesday.LG Innotek has used a flexible resin material that bends smoothly for mounting on vehicles in various configurations, including as daytime running lights, rear combination lamps such as taillights, stop lights and turn lights.The company tried to use a minimal number of components as the product is made by pasting multiple light source packages on a thin substrate. Nexlide-M can create images of line and surface with only light and it is four times brighter than previous products, LG Innotek said.“To spread the light evenly, we need to have a thickness of air layer called an air gap inside the lighting. The air gap is essential for light distribution, but it was a challenge for us to minimize it to create a slimmer lighting product,” the company said, adding that it succeeded in eliminating the air lay

May 31, 2023By Baek Byung-yeul
LG Innotek develops flexible automotive lighting
Companies

Centrum launches new probiotic products in Korea

Shin Dong-woo, head of Haleon's Korean unit, speaks during a press conference at the Dongdaemun Design Plaza in Seoul. Courtesy of HaleonBy Baek Byung-yeulCentrum, a multivitamin brand of global healthcare company Haleon's, will launch three new probiotics products made by its Korean R&D center and produced by its Korean contract manufacturing organization (CMO) partner in order to improve its presence in the country's growing probiotics market, according to the company, Wednesday.“Haleon is the No. 1 player in the global consumer healthcare market with a 6 percent share as of 2021. The company has teamed up with Korean CMO company Kolmar BNH to launch new probiotic products for Korean customers,” Shin Dong-woo, head of Haleon's Korean unit, said during a press conference in Seoul.Haleon was launched in 2022 after completing its spinoff from global pharmaceutical company GSK. The company is a leader in the consumer healthcare markets, selling numerous well-known brands such as Advil, Sensodyne, Panadol, Voltaren, Theraflu, Otrivin, Polident, Parodontax and Centrum.The

May 31, 2023By Baek Byung-yeul
Centrum launches new probiotic products in Korea
Tech & Science

Naver suffers shrinking online search market share

Naver's recently redesigned search engine shows multimedia search results including photos and video clips. Naver said these changes are in anticipation of the upcoming application of AI technology to its search engine. Courtesy of NaverBy Baek Byung-yeulNaver, the country's largest internet company, is losing its share in the search engine market as users flock to more convenient artificial intelligence (AI) chatbot services such as OpenAI's ChatGPT, Microsoft's Bing and Google's Bard, all of which are based on generative AI technology, according to industry officials, Tuesday. The conversational AI chatbot services, which guide users as if they were talking to a human, are threatening Naver's dominant position in the domestic search engine market, creating a crack in the company's 20-year dominance, they said.They also pointed out that as more users are searching not only through these AI-based search platforms but also through YouTube and other platforms that provide personalized services, Naver needs to offer search services that can read individual tastes.According to the data f

May 30, 2023By Baek Byung-yeul
Naver suffers shrinking online search market share
Tech & Science

SK hynix enters validation process for 10 nm DDR5 server DRAM

SK hynix's fifth-generation DDR5 DRAM chips / Courtesy of SK hynixBy Baek Byung-yeulSK hynix completed the development of the industry-leading 10-nanometer process technology-based fifth-generation DDR5 DRAM and entered a product validation process with U.S. chip giant Intel, the Korean memory chip giant said Tuesday.The company said its latest DDR5 DRAM memory chips for servers, also called 1bnm DDR5 DRAM chips, are now in the Intel Data Center Certified memory program for DDR5 products targeted at Intel Xeon Scalable platforms.The DDR5 product SK hynix provided to Intel has an operating speed of 6.4 gigabits per second, making it the fastest DRAM. Compared to the early prototypes of DDR5, the new product processes data 33 percent faster. The product is also based on the High-K Metal Gate (HKMG) process, which reduces power consumption by over 20 percent compared with the fourth-generation DDR5, also called 1anm DDR5.“The HKMG process is a next-generation process that uses a high dielectric constant material in the insulating film of the DRAM transistor to prevent current leak

May 30, 2023By Baek Byung-yeul
SK hynix enters validation process for 10 nm DDR5 server DRAM
Tech & Science

Korea eyes launch of 4th Nuri space rocket in 2025

The third Nuri space rocket blasts off from Naro Space Center in Goheung, South Jeolla Province, Thursday. YonhapBy Baek Byung-yeulKorea's science ministry aims to launch the next Nuri space rocket in 2025, aiming to send a next-generation medium-size satellite into space. In the third launch of the domestically developed rocket, also known as Korean Space Launch Vehicle II (KSLV II), it successfully placed NEXTSAT-2, a small satellite weighing 179.9 kilograms, in geosynchronous orbit on May 25.The Ministry of Science and ICT said Monday that the fourth Nuri launch will put a much larger 500-kilogram satellite in orbit. Korea has tried to put next-generation medium-sized satellites in orbit twice ― the first one was launched in March 2021 by Russia's Soyuz launch vehicle from the Baikonur Cosmodrome in Kazakhstan, and the second one was scheduled to be launched in September 2022, also on a Russian launch vehicle, but was canceled due to the Russia-Ukraine war.The medium-sized satellite will be developed by Korea Aerospace Industries (KAI), while the previous two were co-developed by

May 29, 2023By Baek Byung-yeul
Korea eyes launch of 4th Nuri space rocket in 2025
Tech & Science

US urged to respect Korea's position amid US-China chip war

A Samsung Electronics employee works at a memory chip production line at the company's plant in Xi'an, China, in this May 9, 2014, file photo. Courtesy of Samsung ElectronicsExperts say Korea's top export item should not fall victim to trade disputeBy Baek Byung-yeulThe United States should give Korea's chip giants ― Samsung Electronics and SK hynix ― the utmost respect for their commercial activities in the Chinese market at a time when calls are growing among U.S. politicians for Korean firms not to be allowed to fill the vacuum left in China by a ban on U.S. chipmaker Micron Technology, according to experts, Friday. On May 23, Rep. Mike Gallagher said in an interview with a media outlet that Korean chip companies should not be allowed to fill the U.S. chipmaker's absence in the Chinese market. His comments came after the Cyberspace Administration of China (CAC) announced on May 21 that Micron's products sold in China failed its cybersecurity review and decided to ban operators of critical infrastructure from buying the products of the U.S. chipmaker.The U.S. announced restrictions

May 27, 2023By Baek Byung-yeul
US urged to respect Korea's position amid US-China chip war
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